Scholarship Prep
- Assets
- $31.5m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 241
- Location
- Santa Ana, CA
- Founding
- 12/2015
- Data as of
- 06/2022
- EIN
- 47-3943780
Organization Overview
Scholarship Prep is located in Santa Ana, CA. The organization was established in 2015. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Scholarship Prep employed 241 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Prep is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Scholarship Prep generated $21.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.4% each year . All expenses for the organization totaled $20.1m during the year ending 06/2022. While expenses have increased by 34.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A UNIVERSITY-INSPIRED PATHWAY OF SUCCESS FOR ALL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING THREE PUBLIC CHARTER SCHOOLS SERVING ABOUT 1,359 STUDENTS FROM KINDERGARTEN THROUGH 8TH GRADE FOR 180 INSTRUCTIONAL DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Charles Friedrichs President | OfficerTrustee | 5 | $0 |
Leandro Otero Vice President | OfficerTrustee | 3 | $0 |
John Ing Treasurer | OfficerTrustee | 3 | $0 |
Taryn Burgess Secretary | OfficerTrustee | 3 | $0 |
Crystal Madaule Board Member | Trustee | 3 | $0 |
Carrie Birchler Board Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Procopio Cory Hargreaves & Savitch Llc Legal Services | 6/29/21 | $169,302 |
Claye T Cantwell Food Services | 6/29/21 | $169,267 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,887,734 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,980 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,917,714 |
| Total Program Service Revenue | $0 |
| Investment income | $19,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,948,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $287,229 |
| Compensation of current officers, directors, key employees. | $57,446 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,110,065 |
| Pension plan accruals and contributions | $1,628,257 |
| Other employee benefits | $1,099,361 |
| Payroll taxes | $359,847 |
| Fees for services: Management | $556,618 |
| Fees for services: Legal | $165,364 |
| Fees for services: Accounting | $52,976 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $931,385 |
| Advertising and promotion | $39,633 |
| Office expenses | $1,185,244 |
| Information technology | $127,163 |
| Royalties | $0 |
| Occupancy | $2,157,853 |
| Travel | $55,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $503,926 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $222,762 |
| Insurance | $131,189 |
| All other expenses | $0 |
| Total functional expenses | $20,077,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,956,585 |
| Savings and temporary cash investments | $8,856,099 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,502,622 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $982,038 |
| Net Land, buildings, and equipment | $12,197,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,495,275 |
| Accounts payable and accrued expenses | $3,074,383 |
| Grants payable | $0 |
| Deferred revenue | $1,982,221 |
| Tax-exempt bond liabilities | $17,048,116 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $575,000 |
| Unsecured mortgages and notes payable | $124,996 |
| Other liabilities | $0 |
| Total liabilities | $22,804,716 |
| Net assets without donor restrictions | $8,683,238 |
| Net assets with donor restrictions | $7,321 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $31,495,275 |